Cwm LLC Has $853,000 Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Cwm LLC lifted its stake in Ingersoll Rand Inc. (NYSE:IR) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,655 shares of the industrial products company’s stock after buying an additional 161 shares during the period. Cwm LLC’s holdings in Ingersoll Rand were worth $853,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IR. Norges Bank bought a new position in Ingersoll Rand during the 4th quarter worth approximately $429,591,000. Capital International Investors lifted its stake in Ingersoll Rand by 4.6% in the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock valued at $3,317,537,000 after buying an additional 1,606,363 shares in the last quarter. FMR LLC boosted its holdings in shares of Ingersoll Rand by 8.2% in the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock valued at $1,580,546,000 after buying an additional 1,320,223 shares during the period. GAMMA Investing LLC increased its position in shares of Ingersoll Rand by 7,137.0% during the first quarter. GAMMA Investing LLC now owns 1,307,370 shares of the industrial products company’s stock worth $1,046,290,000 after acquiring an additional 1,289,305 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Ingersoll Rand by 5.9% during the fourth quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock worth $1,110,593,000 after acquiring an additional 679,856 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the completion of the transaction, the insider owned 10,986 shares of the company’s stock, valued at approximately $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the sale, the insider directly owned 193,186 shares of the company’s stock, valued at $16,040,233.58. This represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

IR has been the subject of a number of recent research reports. Citigroup restated a “buy” rating and set a $104.00 price objective (up from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Melius Research set a $93.00 target price on shares of Ingersoll Rand in a report on Monday, July 14th. Wells Fargo & Company boosted their target price on Ingersoll Rand from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Melius downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research report on Monday, July 14th. Finally, Stifel Nicolaus boosted their target price on shares of Ingersoll Rand from $78.00 to $95.00 and gave the company a “hold” rating in a research report on Monday. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $100.92.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $85.50 on Wednesday. The business has a 50-day simple moving average of $83.71 and a 200 day simple moving average of $83.08. The firm has a market capitalization of $34.50 billion, a price-to-earnings ratio of 42.33, a PEG ratio of 3.54 and a beta of 1.43. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 1.76. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 earnings per share. On average, research analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand announced that its Board of Directors has approved a share repurchase program on Thursday, May 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th were paid a $0.02 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is currently 3.96%.

Ingersoll Rand Company Profile

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.